Zeno Ventures backs Tizeti to bring unlimited Wifi to Africa
Venture capital firm, Zeno Ventures, has closed an investment in Tizeti Inc., a Menlo Park, CA and Lagos, Nigeria based startup that participated in the latest batch of Y Combinator.
Tizeti has developed a cost effective solution to provide reliable broadband internet services to densely populated urban centers in Africa. The company owns the last mile delivery network that routes internet connectivity from submarine cables to its customers' locations through its collection of solar powered Wi-Fi towers in central Lagos. Tizeti's consumer facing brand, Wifi.com.ng, offers unlimited data plans starting at $30 per month as well as hot spot services for short term use.
Currently, less than 1% of Africa's population has a broadband subscription. Tizeti provides unlimited plans at an affordable price - 30% lower than existing mobile offerings.
Tizeti is now the seventh investment of Zeno Ventures, which has completed a closing of its debut fund earlier this year. Zeno Ventures has also invested in Breaker, Joy, Labdoor, Snappr, Standard Bots, Starcity and Tizeti.